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are on track for elections in 2014. i want to mention another thing that was going on at this iiss conference i attended in bahrain. foreign ministers from egypt, qatar, the u.s. secretary of defense chuck hagel, they were talking about u.s. realignment, the realignment of the u.s. in the region. what that means for the gcc countries. as they look to shore up countries with trouble like egypt, the 15 to $20 billion they've invested, they're going to look to broaden their scope in terms of who they're going to be investing in and trying to make sure the gcc is a strong force in the region. >> we'll see what that does for investment attitudes. for now, hadley, thank you so much indeed for that. >>> we'll bring our attention to bio fuels. it could be set to rise after the eu canceled a vote. in october they called for these types of bio fuels to be restricted because of concerns it could lead to food shortages. joining us is kevin mckinney. thanks for joining us. big difference of opinion between the european council and the european commission. why? >> the three original objectives for bio fuels,
way and thinking about re-election. that's not going to be repeated. the emerging markets are in difficulties, as i say, and the result is that german exports at the moment are up from just before the crisis because of exports to emerging markets. so the german export machine is now having difficulties but the emerging markets are in difficulties. >> charles will pick up on this point in just a bit. charles dumas, the chairman of lombard street is staying with us. this is how we're shaping up across european markets this morning. a bit of a mix between the red and the green, but on balance, the gainers have it. we're up about 0.3% on the stoxx europe 600. the german market has been one of the better performers this morning. still a gap to close as we close out the month of november. but nonetheless, the move has been a push higher on the top performance has been the likes of infineon. as we move on to some of the other markets, zurich, we've got some selling in shividon. nestle is under pressure. across the board on balance, you can see on these indices, the xetra dax 0.5%
of the 2014 elections and beyond. >>> as we begin the holiday season, we pay extra attention to pope francis' criticism of capitalism. his apparent view that the state will solve the problems of poverty, not the market. i must say, with the greatest of humility as a devout catholic, i completely disagree with his holiness. all those stories and much more coming up on "the kudlow report" beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." we're here live, 7:00 p.m. eastern, 4:00 p.m. pacific. new obama care enrollment numbers out. there are still glitches everywhere apparently. steve handelsman joins us with the details. >> reporter: the website's better but it doesn't mean it's good. the nbc news estimate is that 100,000 americans in november signed up for coverage using healthcare.gov. that's a much better number than in october. but it's way worse than what a dozen or so state exchanges have signed up. today administration sources said by 5:30 p.m. eastern time, the site had 750,000 visits. it slowed down at times. some people got "please wait" m
for election, took power in 1994, and his deputy president was f.w. de klerk. they did share the nobel prize as you mentioned and the hallmark of his tenure, he established a board of inquiry to look into past atrocities that had been done. what was it called? the truth and reconciliation commission. that's what it was all about. south africa had the economy, has the economy that is the greatest economic engine on the african continent and nelson n mandela did not dismantle that economy, he did not force the kind of redistribution of wealth at a pace in which his supporters wanted it to happen, he said now it's time for us to build, not to function as a revolution anymore. >> thanks, john harwood. we appreciate it. now, we are joined on the phone by robert johnson, who is a cnbc contributor, founder of the rlj and former chairman of b.e.t., old friend of mine. robert, you met nelson mandela many times, okay. how many times did you meet him, what are your thoughts tonight as he passes away? >> yeah, i had the great and humbling pleasure of meeting president mandela on a number of occasions,
looks to make gains in key elections. we'll be in dehli in just over half an hour. >>> and move over, detroit. tensions are moving to other regions drowning in debt, including puerto rico. what it could mean. if you've got any thoughts or comments about anything we're talking about today, e-mail us, worldwide@cnbc.com. the ecb today will be presenting new growth and inflation forecasts alongside the announcement of its latest policy decision. the central bank said it expected a slight rise in inflation in 2014 and '15 and predicated a rise in in inflation across the upper row zone next year. annette is with us now. they cut rates last month. the euro hasn't weakened. we had sharp divergence between germany and france. what do they do now? >> that's a good question, actually, probably. today they won't do anything. we might see more moving towards potential further easing next year. as well, of course, that wouldn't be their first agenda to weaken the euro a little bit towards the dollar. they would never admit that. but it would actually help around the periphery of the eurozone. as
an election in spring 2015. >> there's always the risk, but if you're looking at a better housing market, better mortgage availability, perhaps a eurozone recovery and stronger growth out in the u.s., you're looking at a number of drivers which should, if anything, gain momentum over the next year, year and a half. if i were the chancellor, i wouldn't want to delay the recovery anymore. i'd want that good news story to filter through in terms of the broader economy but also allow households perhaps more time for their own financial improvements to become more receptable. >> lending was up 5.8 billion. participants made efforts down to 5.5 billion during the third quarter. whatever those figures say. the evidence is actually for lenders having less and less of an impact in terms of what the banks were doing. what does the -- what discussions now at the bank this thursday hinge around? clearly the strength of this recovery? as long as we don't get any average meaningful earnings inflation, actually, will they say it doesn't matter if we trigger -- if we go through the threshold -- they don
the economy is going to do this year and next ahead of the election. >> yeah. i think the likelihood is that the economy will continue to grow at a 2% to 2.5% late next year. that's decent, but it's not stellar. given all they have said about reducing the deficit over the next few years, it leaves room for cutting taxes. i think what the uk needs is a rebalancing towards investment and exports. the government realizes this and i think as a consequence it's unlikely to do things to throw additional fuel on the fire of consumption. >> do you think the government is doing enough? are you expecting any measures, say, on planning tomorrow from the troika? would that have helped? we had construction pmis this week very strong, rising like a phoenix out of the ashes. but many suppliers saying the supply side of that market is still very, very underperforming. >> yeah. i mean, when it comes to the supply side of the uk housing market, it really is down to things like change, having a look at the green belt legislation, trying to, you know, incentivize local authorities to watch the yen gauge
for the health care system, not just for the health of the participants but for the whole bloody election in november 2014. that's where we're going. >> if that happens. that's the big if. if companies, major companies that have been bearing the cost of health insurance at their volition since, you know, world war i, decide that this is somehow in their interest to start kicking offer their employees -- >> world war ii. >> exactly. world war ii, start kicking off their employees because they want to cut savings, they are going realize if they are working for a newspaper, their staff -- >> larry, i have to say, identify talked to small business owners who say that just paying the fine will more than soak up their profit margin opinion they will have to close their doors, lay everybody off. they are cutting back hours. paying the fine is way too much for them. they can't possibly afford this. >> i have to get out. very good discussion. i think the real winner is this guy zients. i think if obama had him around whatever three, four, six, 12, i don't know 36 months ago he would have been in b
's. when he got re-elected at 72 or 74, 76, something like that, there was a question when he was running is that too old? there's some senators that go to -- >> i want them to drag me out of the box. >> you're 33 years old. >> i still want them to drag me out of the box. >> they will. we don't know where you'll be by then. you're on a fast track. you are. you're a climber and you're very ambitious. >> it's hard work. >> did you see google today? >> no. >> who is this person? >> what is this? >> my computer doesn't work today. i can't see zblig she was a computer programmer. grace happa. i want to run -- happa. see her? happa. >> from the ads. >> her name is happa. >> she was a scientist. >> i never heard of her before. >> pioneer in the field. >> that doesn't mean anything. >> have you ever heard of her? >> i haven't. >> will you say that for me. >> harper. >> harper. >> when we come back, the ceo of one of the best ipos will join us on set. the stock is up 40% since may. we'll unveil the country. >>> plus, sunshine, tourism and tax breaks. florida governor rick skotd will join us on set
particularly because of the shutdown and how that hurt republicans. and it's an election year in 2014, republicans want to talk about obama care, they want to talk about other issues. they think they can beat up on obama and the democrats and don't want to get bogged down by shutdowns and debt limit fights. there's no reason to think stocks are too high because washington's going to kill everything. >> and maybe it was set so low because it was on the floor. >> you can't go much lower than they are. they can clear the bar for expectations which is no shut down. and maybe get the approval ratings in the 10% range, double digits at some point. >> one of the things we've been watching is what the fed's going to do next. how much do you think the fed has been responsible for this. and if the tapering begins, is that really something that takes the steam out of the market? not if it's just based on valuations like you've been talking. >> i have not been of the view that fed-driven liquidity is the sole support under the market. we touched on it a few minutes ago, there are many traditional
all the people who thought that the black people in africa who thought that as soon as he was elected, things were going to look much better. they would have houses, cars, that didn't materialize. it was a crazy system that set up before that. >> that would have taken a redistribution. >> they did exactly that. >> mandela was somebody who would personally get involved in all kinds of issues. we're going to be speak, richard branson later this morning. he received a personal phone call from mandela asking him to step in and save some jobs by investing in a company. he's going to talk to us about that. he's somebody who saw the plight, reached out on a personal level and tried to make a difference every day. >> michelle, are you coming back? >> i think so. >> because i want to ask you about the south african economy. it is a member of the g-20. it is one of the leading countries and i know guys have put money into that country who made a lot of money there. >> they're considered one of the fragile five, as we call it. so if we start to see tapering -- right. just like indonesia or india
there to protect the taxpayer is a lot of times the democrats that the union ves elected, anyway. so you've got no one there to protect the -- >> well, in the past when officials have not wanted to pay up for raises at the time, they say don't worry, we'll take care of you at the pension. 30 years down the road they're not necessarily going to be honored all the time. it's not just the pensioners who are going to feel pain. this is every constituency. >> in the private sectors, they know if they put their company out of business, they're going to still have a job. and cities can't believe this is happening. we would be back to where every single time they're going to think, hey, we can -- >> the rest of the nation is watching what happens in detroit. it's going to be appealed. the union ves said they're going to appeal this decision. but the judge who ruled yesterday said he will not stay his decision awaiting that appeal. when we come back, we'll talk november expectations for the adp jobs report. just by talking to a helmet. it grabbed the patient's record before we even picked him up. it fou
's mid term election, but you know what? sometimes the republicans are their own worst enemies. let's welcome former republican senator from texas kay bailey hutch chin son. as always, great to see you. i wasn't necessarily referring to you, i was referring to the generic republicans, but here's a point. judiciary committee in the house yesterday reported on by dan millback from the washington post, whispering or spoken word about impeachment. we're going to impeach. i have to listen. steve king, doug collins, blake farenhold, steve stockhold. they're talking about impeaching president obama because they don't like syria and they don't like obama care. i'm thinking that would be the nuttiest, dumbest idea at this point that's possible. what's your take? >> i think that diverts attention from the real issues that every american that has had insurance and that has had a letter from their insurance company canceling that insurance or the people who are really suffering, that's the need that we need to address. >> so you -- talking about it's a diversion that i think takes away from the
. >> he's probably right. don't see the bubble popping until some time in mid-year, after the election after mud slinging starts and fed chairman shift. for the next couple of months, next few months q4/q1, great combination and juice by the feds quantitative easing. i think we rally up march april, may. >> just to quote from adam parker at morgan who's putting together his forecast says something like 6% to 8% earnings appreciation, maybe add 8 -- 3% and a little multiple expansion. that doesn't sound terribly bubbly. >> i don't think we're in a bubble in the sense we're anything like the real estate bubble. i think you're probably somewhere around fairly valued for stocks across the board right now. the question is are earnings going to expand enough and you're going to get a little multiple expansion you talked about to drive stocks higher? we think another double digit gain in 2014 is possible but there will be more volatility. it won't be linear like we've seen over the last couple of years. bubbles happen but trading sideways gets rid of that bubble eff
are looking to 2014, mid-term elections as an opportunity for both sides. they've got to figure it out. >> what are you going to buy? quickly? besides the emerging markets? staying here in the u.s.? >> i think the biggest -- that doesn't happen i think we're okay. emerging markets will be the spot for next year. >> gentlemen, thank you both. good to see you. thanks for joining us today. we'll take a break. come back with the closing countdown for this thursday. in danger of a five-day losing streak overall. so far no up days for the month of december. >>> after the bell, they want $15 an hour. or no one gets a happy meal. fast food workers making their case today for higher wages. one will be joining us, coming up this next hour on the "closing bell." stay tuned. ♪ ♪ ♪ i wanna spread a little love this year ♪ ♪ i wanna spread a little love and cheer ♪ [ male announcer ] this december, remember -- provocative design and exacting precision come together in one powerful package at the lexus december to remember sales event, with some of the best offers of the year on our most
to these people who were elected officials who are no longer elected will play a big role in stopping the next bailout. >> michael? >> i agree with lindsey. we don't want government in this role, period. but when we do have a very real situation that looks like too big to fail across banks and other industries we go through what we went through, the result really wasn't that bad. i don't think goth should be in this role and i don't think we've done anything to fix it. the banks are bigger other things are bigger. we'll have to do it again if we get there again. >> they're trying to write legislation to keep the fed from being able to exercise -- >> that's right, kelly. >> does it make sense? >> there's also more capital, michael. >> yes. >> a lot more regulation for better or worse. i would think given the capitalratios of some of these banks we're away from a t.a.r.p.-like situation -- >> although history after the fact is not that encouraging. we'll leave it there. steve liesman, they've for bringing that news to us. we'll keep eyes on gm shares as government has divested
we elect people, put them on staff? if that's the way it is, i understand. i'm a pragmatic realist. in the end, i would think it's important that somebody reads it before they pass it because i think all the surprises in obama it's not fair to put many public workers back in this kind of gray area again. this is supposed to save $150 billion over the next several decades and all eyes will be focused on illinois because it's the worst and it's trying to get better. back to you, simon. >>> tweet time. jeff bezos reveals they are experimenting with drone-based delivery. the service amazon prime air could be ready in the next four or five years and could carry objects to customers within a ten-mile radius of an amazon distribution center. is it a great idea? what's the worst that could happen? tweet us @squawkstreet. [ female announcer ] thanks for financing my first car. thanks for giving me your smile. thanks for inspiring me. thanks for showing me my potential. for teaching me not to take life so seriously. thanks for loving me and being my best friend. don't forget to thank those w
guarantee him success in the elections. from his perspective, that was going to be russia particularly as the ukraine required financial support which the eu seems unlikely willing to provide. >> if they had been willing to provide that, would the situation have been different? >> potentially. however, russia does hold a number of cards. obviously, ukraine is still very dependent on gas imports from russia and the gas price would have been a crucial consideration in all of this. however, it's clear from what has happened yanukovych miscalculated the extent to which the population is in favor of joining us moving towards the eu. we just got this note coming out from the ukraine finance minister saying can ikiev will back its debt on time. what do you make of that? >> that's clearly a signal to russia that the ukraine is still on side and possibly able to appeal to russia to come forth with distance. at this point, yanukovych has to show concrete evidence of russian support. >> are these protests go to go continue? and what are the implications? >> the protests are likely to continue. sh
they're just buying tablets. >> on twitter. by the way, twitter has elected margie scar did i no to the board. a former head of the economist group. i think a nokia director in some capacity. so a little diversity of the board. >> hewlett packard doesn't just have diversity. it's a great turn around. >> i think that's always an interesting point. we talk so much about ladies in the top office, but there you've got meg whitman and cathy lesjack and they are running that company. >> and the cfos in this country, i don't mean to be sexist or even recognize gender, but two of the best cfos in the country are women. women who are watching the show are -- or teenagers or those in your 20s, go into finance. there's jobs there. >> when we come back this morning, a live interview with ford's ceo alan mulally as the automaker unveils a new redesigned mustang for 2016. but what about his future at the company? we'll see what happens. we're going to get factory orders and draghi's presser continues. a lot more "squawk on the street" in a moment. . tdd#: 1-800-345-2550 life inspires your t
from a high point, more or less with his initial election in 2008 to a low point, whether it was the language he used or some of the relationships that went on to change when they saw policies that were in place. what is it like today. where do things stand with if it's even possible to describe it, wall street generally. >> i would tell you that the alignment between the white house and the business community is probably the most aligned. away from the rhetoric people like to talk about, wall street and the business community wants immigration reform. >> wall street and business community wants tax reform. president would like them to go down 25% from manufacturing. wall street is for more of export initiative and free trade. if you look at where we are today, a lot of the president's priorities align with this country from the business side. >> jobs that was job one when he took office. we still have anemic job growth. the fed, it feels, has to pump $85 billion into the economy to try and spur job growth right now. what is it going to take? >> i'll
. >> now, election's coming up. many think that this compromise, the fact it was bipartisan, is going to give you an edge for a second term. with our final 40 seconds here, can you give us an idea of some of the issues you're going to be underscoring as you make a run for a second term? >> you need governors that take on hard issues like pension reform, and like making sure we have marriage equality in our state. i signed that law a couple of weeks ago. that's what governors should do. i don't worry about politics. i worry about policy. i inherited terrible problems from rob blagojevich. we cleaned up the ethics, and we reformed the pension system which needed fundamental reform. >> now, with regard to chicago, which you can't speak for directly, obviously -- >> i live in chicago. >> no, i understand that. it seems like rahm emanuel is going to have issues regarding property taxes and raising property taxes, because they have a pretty big gaping deficit hole. do you have any advice or any issues that you think we can learn from on how you negotiate on a state level with respect to rah
. but they are not in a position to do that because they've got nervous democrats up for re-election. they had to fix this. they had to come up with something they said was a fix. december 1st. but puts them in the unenviable position of, again, saying something that probably from what i read -- i mean, if you can go in and log in and maybe get on there. but if you -- the back end seems like it's more important than the front end. and if you don't have the back end done, how do any of these companies write insurance? signing up for it is one thing, actually getting it is another, right? >> that point you're making is absolutely true. i'll reflect in history back to 2006 when i had the responsibility of implementing the medicare part d program. we reached -- we had some substantial technical problems in the first eight weeks of the system. there was a stretch of about 13 days where i was in 20 states and that 13-day period. and my message was basically breathe through your nose because we're trying to get this fixed and we're going to get this fixed. and i was buying time. i was doing what i thought was th
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